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Too many companies have left the nation because the Ukraine disaster started, John Sullivan says
Enterprise relations between the US and Russia have been broken over the previous months because of the battle in Ukraine, and it could take years to rebuild the hyperlinks between the 2 international locations, US Ambassador to Russia John Sullivan stated in an interview with TASS, revealed on Monday.
“Industrial relations between the US and Russia have been one of many final main hyperlinks between our two international locations. That has been utterly wrecked. And my concern… even when our governments may reconcile the big hole that now exists between us, is that it’ll take a very long time to reestablish the business relationships,” he stated.
The ambassador famous that it took the 2 international locations a number of many years to construct commerce relations, and, whereas expressing hope that the second for reconciliation will come sooner slightly than later, this will not occur throughout his lifetime nor “within the present surroundings,” as too many enterprise ties have been severed and too many US corporations left Russia regardless of “swearing that they [would] by no means depart Russia.”
“[It will take] years, if not longer. For companies – it’s going to take a very long time. And that’s when individuals are able to need it, and proper now they’re leaving, so we’re not even interested by that,” Sullivan stated.
The envoy added that other than corporations, US residents are additionally leaving Russia, a lot of them members of the US enterprise neighborhood which have lived in Russia for many years. This could additionally make it tough to fix relations.
Total, Sullivan referred to as it a tragedy that Russia and the US at the moment focus on solely a fraction of the problems which are on the agenda, however reiterated US President Joe Biden’s stance that there shall be no enterprise as normal with Russia within the foreseeable future.
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Washington positioned an unprecedented variety of sanctions on Moscow after Russia launched an offensive in Ukraine earlier this yr, together with export controls, asset freezes, monetary and commerce restrictions, a ban on investments, focused sanctions in opposition to Russia’s entrepreneurs, banks and companies. These measures prompted an exodus of roughly 1,000 US and multinational companies from the nation thus far and nearly took away Russia’s capacity to conduct worldwide transactions. Russia retaliated with countermeasures and vowed to spice up interplay with its different worldwide companions in Asia and Africa.
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